Innovator Correlations
PMAR Etf | USD 42.63 0.02 0.05% |
The current 90-days correlation between Innovator SP 500 and Innovator SP 500 is -0.1 (i.e., Good diversification). The correlation of Innovator is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.
Innovator Correlation With Market
Very poor diversification
The correlation between Innovator SP 500 and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator SP 500 and DJI in the same portfolio, assuming nothing else is changed.
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Moving together with Innovator Etf
0.97 | INOV | Innovator ETFs Trust | PairCorr |
1.0 | BUFR | First Trust Cboe | PairCorr |
1.0 | BUFD | FT Cboe Vest | PairCorr |
1.0 | PSEP | Innovator SP 500 | PairCorr |
1.0 | PJAN | Innovator SP 500 | PairCorr |
0.99 | PJUL | Innovator SP 500 | PairCorr |
0.98 | PAUG | Innovator Equity Power | PairCorr |
1.0 | DNOV | FT Cboe Vest | PairCorr |
0.99 | PMAY | Innovator SP 500 | PairCorr |
0.99 | PJUN | Innovator SP 500 | PairCorr |
0.89 | BTCL | T Rex 2X | PairCorr |
0.89 | BITU | ProShares Trust | PairCorr |
0.88 | BTFX | Valkyrie Bitcoin Futures | PairCorr |
0.88 | BITX | Volatility Shares Trust | PairCorr |
0.79 | MSTY | YieldMax MSTR Option | PairCorr |
0.97 | DFEN | Direxion Daily Aerospace | PairCorr |
0.94 | BA | Boeing Earnings Call This Week | PairCorr |
0.89 | DD | Dupont De Nemours Earnings Call This Week | PairCorr |
0.97 | CAT | Caterpillar | PairCorr |
0.76 | INTC | Intel Earnings Call This Week | PairCorr |
0.97 | DIS | Walt Disney | PairCorr |
0.97 | AXP | American Express | PairCorr |
0.97 | CSCO | Cisco Systems | PairCorr |
0.98 | BAC | Bank of America | PairCorr |
0.85 | PFE | Pfizer Inc | PairCorr |
0.98 | MSFT | Microsoft Aggressive Push | PairCorr |
Moving against Innovator Etf
0.91 | WTID | UBS ETRACS | PairCorr |
0.57 | KO | Coca Cola Earnings Call Today | PairCorr |
0.48 | PG | Procter Gamble Earnings Call This Week | PairCorr |
0.4 | VZ | Verizon Communications Aggressive Push | PairCorr |
Related Correlations Analysis
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Innovator Constituents Risk-Adjusted Indicators
There is a big difference between Innovator Etf performing well and Innovator ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Innovator's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
PAPR | 0.29 | 0.11 | (0.07) | (1.93) | 0.12 | 0.97 | 2.17 | |||
POCT | 0.38 | 0.14 | (0.01) | (3.62) | 0.05 | 1.08 | 2.56 | |||
PMAY | 0.36 | 0.05 | (0.02) | 0.23 | 0.34 | 1.55 | 2.61 | |||
PFEB | 0.37 | 0.07 | 0.00 | 0.27 | 0.13 | 0.98 | 2.67 | |||
PJUN | 0.40 | 0.07 | 0.03 | 0.26 | 0.15 | 1.19 | 3.69 |